profit from every $100 of sales.
$0$100
CMS Energy
$70.38+1.68% today
-4.8% in 1 year
1-year low $62.601-year high $79.94
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2020 to 2025.
0%20% a year
You pay $20.61 for every $1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What CMS Energy sold, what it kept, and what it did with the cash.
Sales went from $8.60 billion in 2022 to $8.54 billion in 2025, with $1.07 billion of profit last year.
SalesProfit
CMS Energy vs. similar companies
CMS Energy grows in the middle of these 5 and is priced in the middle for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| CMS Energy | 20.6× · Fair price | ||
 Dominion Energy | 19.9× · Fair price | ||
 WEC Energy Group | 24.8× · Fair price | ||
 Public Service Enterprise Group | 17.9× · Fair price | ||
 Ameren | 21.8× · Fair price |
AI analysis
An AI analyst reads CMS Energy's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| 6,418 | 7,329 | 8,596 | 7,462 | 7,515 | 8,539 | |
| – | – | 2,762 | 2,862 | 3,209 | 3,546 | |
| 1,230 | 1,146 | 1,224 | 1,235 | 1,487 | 1,727 | |
| 2,357 | 2,437 | 2,547 | 2,777 | 3,071 | 3,352 | |
| 755 | 1,353 | 837 | 887 | 1,003 | 1,071 | |
| 2.64 | 4.66 | 2.84 | 2.98 | 3.32 | 3.46 | |
| – | – | 32.1% | 38.4% | 42.7% | 41.5% | |
| 19.2% | 15.6% | 14.2% | 16.6% | 19.8% | 20.2% | |
| 11.8% | 18.5% | 9.7% | 11.9% | 13.3% | 12.5% |
Balance sheet
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Total assets | 29,666 | 28,753 | 31,353 | 33,517 | 35,920 | 39,941 |
| Cash | 32 | 452 | 164 | 227 | 103 | 509 |
| Total debt | 12,321 | 12,442 | 14,309 | 15,643 | 16,566 | 18,898 |
| Total liabilities | – | – | 23,758 | 25,392 | 27,172 | 30,230 |
| 5,496 | 6,631 | 7,015 | 7,544 | 8,230 | 9,144 | |
| 286 | 290 | 291 | 294 | 299 | 306 | |
| 5.8% | 5.5% | 5.3% | 5.4% | 5.8% | 5.8% | |
| 13.7% | 20.4% | 11.9% | 11.8% | 12.2% | 11.7% |
Cash flow
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| 1,276 | 1,819 | 855 | 2,309 | 2,370 | 2,235 | |
| 2,311 | 2,076 | 2,481 | 3,386 | 3,178 | 4,038 | |
| – | – | -1,626 | -1,077 | -808 | -1,803 | |
| Dividends paid | – | – | 544 | 579 | 626 | 663 |
| – | – | – | – | – | – | |
| – | – | – | – | – | – |
Valuation
- 20.6×
- 18.1×
- 3.70
- 2.3×
- 2.6×
- –
- 12.1×
- -8.2%
- 4.9%
- 3.1%
Profitability
- 41.5%
- 20.2%
- 12.5%
- 36.6%
- 3.6%
- 4.5%
- 12.3%
- 2.7%
- 4.7%
- –
Growth
- +5.9%
- +5.6%
- −145.2%
- +5.9%
- +1.0%
Financial health
- 5.8×
- 2.02
- 47.4%
- 2.1×
- 0.84
- 0.66
- 0.22
How it ranks in Utilities
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 19%of 397
Top 45%of 392
Bottom 41%of 363
Top 43%of 397
Bottom 15%of 396
What analysts expect
- Average price target
- $81.00
- Range
- $79.00 – $85.00
- 6 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| Apr 28, 2026 | 1.13 | 1.11 | +1.8% |
| Feb 5, 2026 | 0.95 | 0.93 | +1.8% |
| Oct 30, 2025 | 0.93 | 0.86 | +8.1% |
| Jul 31, 2025 | 0.71 | 0.68 | +4.4% |
| Apr 24, 2025 | 1.02 | 1.01 | +1.0% |
| Feb 6, 2025 | 0.87 | 0.87 | +0.0% |
| Oct 31, 2024 | 0.84 | 0.78 | +7.7% |
| Jul 25, 2024 | 0.66 | 0.63 | +4.8% |
3.1%of the share price, paid each year
On $1,000 invested$31a year at today's yield, before tax
+5.9%2020 to 2025
Raised10 yearsin a row, in our data
Paid per share, each year
$1.16 in 2015 → $2.17 in 2025
How safe it looks
61.9% of its profit
Room to growStretchedMore than it earns: -41.7%
News
CMS.PR.C declares $0.2625 dividendSeeking Alpha · Nov 14, 2026Kolibri Global Energy GAAP EPS of $0.10 misses by $0.05, revenue of $18.3M beats by $0.97MSeeking Alpha · Nov 13, 2026These five energy stocks remain under pressure with persistent Sell ratingsSeeking Alpha · Nov 13, 2026XOP vs AMLP. Is a Midstream or Upstream Energy ETF the Better Buy as Oil Prices Stay High?Yahoo Finance · Nov 12, 2026Bloom Energy’s stock rallies as data-center jitters subsideMarketWatch · Nov 11, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
29No pass
Benjamin Graham
46No pass
Philip Fisher
41No pass
Peter Lynch
19No pass
Joel Greenblatt
23No pass
Charlie Munger
29No pass
Terry Smith
22No pass
Questions about CMS Energy
Is CMS Energy a good stock to buy?
A business with weak numbers at a fair price. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the CMS Energy AI analysis
What does CMS Energy do?
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. It is in Regulated Electric, based in Jackson, MI, United States, with 8,350 employees.
Does CMS Energy pay a dividend?
Yes. At today's price the dividend is 3.1% a year, about 62% of its yearly profit. In 2025 it paid out $663 million in dividends.
Is CMS Energy stock halal?
No. CMS Energy does not pass our halal screen: its debt is 86% of its market value, at or above the 33% limit. How we check
How has CMS Energy stock done over the past year?
Down 4.8% over the past twelve months, to $70.38. It traded between $62.60 and $79.94 and is 12.0% below its high.
Who are CMS Energy's competitors?
The largest listed companies in the same industry are Dominion Energy, WEC Energy Group, Public Service Enterprise Group and Ameren. The peers table on this page compares their profit, growth and price with CMS Energy's.
Prices: daily closes to Nov 13, 2026. Fundamentals: company reports via invest-like data.